4.15%
5 years
N/A
CA$1,000
WealthONE Bank stands out as the top choice because it offers a strong 5-year GIC rate of 4.15%, ensuring competitive returns for savers. With a minimum deposit of CA$1,000, it provides a secure investment option backed by CDIC insurance.
Pros:
- CDIC-insured
- Competitive rate
Cons:
- Minimum deposit required
4.25%
5 years
N/A
CA$1,000
What sets Oaken Financial apart is its impressive 5-year GIC rate of 4.25%, which is among the highest in the market. This provider offers a straightforward investment option with a minimum deposit of CA$1,000, ensuring your funds are well-protected.
Pros:
- High interest rate
- Flexible terms
Cons:
- Non-redeemable
4.00%
5 years
N/A
CA$1,000
Equitable Bank shines for its user-friendly online platform and a solid 5-year GIC rate of 4.00%. With a minimum deposit of CA$1,000, it provides a reliable option for those looking to secure their savings.
Pros:
- Competitive rates
- Easy online access
Cons:
- Higher minimum deposit for direct bank
4.16%
5 years
N/A
CA$5,000
HomeEquity Bank offers a competitive 5-year GIC rate of 4.16%, making it a strong contender for savers. The flexibility in interest payment frequency adds to its appeal, although it requires a higher minimum deposit of CA$5,000.
Pros:
- Flexible interest payment options
- CDIC insured
Cons:
- Higher minimum deposit
4.12%
5 years
N/A
CA$1,000
Canadian Tire Bank provides a reliable 5-year GIC rate of 4.12%, appealing to those who prefer established brands. With a minimum deposit of CA$1,000, it offers a straightforward investment option without complex promotions.
Pros:
- Standard GIC options
- Well-known brand
Cons:
- Limited promotional offers
4.02%
5 years
N/A
CA$1,000
MCAN Financial offers a solid 5-year GIC rate of 4.02%, making it a secure choice for investors. With a minimum deposit of CA$1,000, it provides a straightforward investment avenue, although higher tiers require larger deposits.
Pros:
- Secure investment
- CDIC insured
Cons:
- Higher minimum deposit for broker network
4.05%
5 years
N/A
CA$1,000
Achieva Financial stands out for its commitment to offering a consistent 5-year GIC rate of 4.05% without relying on temporary promotions. This approach ensures that all customers receive the best rate on their investments.
Pros:
- Consistent high rates
- No promotional gimmicks
Cons:
- Limited to specific account types
Did you know?
Five-year GIC products often pay more but limit access. Confirm whether the rate is registered-eligible for TFSA or RRSP use.
Final Words
As you consider your options for the best 5-year GIC rates this September 2026, providers like WealthONE Bank, EQ Bank, and Oaken Financial stand out with competitive offerings. Remember to compare rates, terms, and conditions to ensure you find the best fit for your financial goals, as even slight differences can significantly impact your returns.
Frequently Asked Questions
The top providers of 5-year GICs in Canada as of September 2026 are Oaken Financial, WealthONE Bank, and Equitable Bank. Oaken Financial offers a competitive rate of 4.25%, followed by WealthONE Bank with a rate of 4.15%, and Equitable Bank at 4.00%.
Oaken Financial offers a GIC interest rate of 4.25% for a 5-year term.
The minimum deposit required for a 5-year GIC at WealthONE Bank is CA$1,000.
A Guaranteed Investment Certificate (GIC) is a type of investment that offers a guaranteed return over a fixed term. Investors deposit a sum of money for a specific period and earn interest at a predetermined rate.
Yes, GICs offered by CDIC-insured institutions are protected up to CA$100,000 per depositor, which safeguards your investment in case the bank fails.
When choosing a GIC, consider the interest rate, term length, minimum deposit requirement, and whether the GIC is insured by CDIC. Additionally, assess your liquidity needs, as funds are typically locked in for the term.
Withdrawing money from a GIC before its maturity date is generally not allowed without incurring penalties. It's important to understand the terms and conditions before investing.
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